Traffic surge at ports a sign of India's economic revival: Report

Both coal and crude oil grew 16 per cent year-on-year (YoY), accounting for 105 mt and 65 mt of traffic in the first quarter, even on the back of record high prices

Buoyed by higher demand for crude oil and imported coal, Indian ports recorded a growth of 11 per cent in traffic during the April-June quarter of 2022-23. This shows that the economy is opening up, a report by DAM Capital said.

The volume increase assumes significance since both prices of crude oil and imported coal have been soaring this year. Indian coal companies were pressed for supply amid a thermal coal crisis earlier in the year.

Between major and non-major ports, 366 million tonnes (mt) of traffic saw movement in the first three months of the fiscal year. Of this,